TrueMark Investments LLC Trims Position in Okta, Inc. (NASDAQ:OKTA)

TrueMark Investments LLC decreased its holdings in Okta, Inc. (NASDAQ:OKTA) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,737 shares of the company’s stock after selling 713 shares during the period. TrueMark Investments LLC’s holdings in Okta were worth $688,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Paloma Partners Management Co purchased a new stake in shares of Okta in the 3rd quarter worth about $969,000. SBI Securities Co. Ltd. bought a new position in Okta in the fourth quarter worth about $1,686,000. Stifel Financial Corp lifted its holdings in Okta by 56.1% in the third quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock worth $2,770,000 after buying an additional 13,387 shares during the period. Nordea Investment Management AB boosted its position in Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after acquiring an additional 382,190 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Okta by 7.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company’s stock worth $8,813,000 after acquiring an additional 8,239 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Stock Up 0.3 %

OKTA stock opened at $116.72 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $20.26 billion, a price-to-earnings ratio of -333.49, a P/E/G ratio of 6.42 and a beta of 1.09. The business’s 50-day moving average is $98.81 and its two-hundred day moving average is $85.04. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $118.07.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OKTA. BMO Capital Markets lifted their price target on Okta from $105.00 to $130.00 and gave the company a “market perform” rating in a research report on Monday, March 10th. Jefferies Financial Group boosted their target price on shares of Okta from $90.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. Barclays increased their price target on shares of Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Susquehanna boosted their price objective on shares of Okta from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, UBS Group set a $135.00 target price on shares of Okta in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.29.

Insiders Place Their Bets

In other news, CFO Brett Tighe sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares in the company, valued at $10,015,437. This trade represents a 4.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,524,241.25. The trade was a 34.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 763,901 shares of company stock worth $70,880,205. Company insiders own 7.00% of the company’s stock.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.